23,620 Shares in Loews Corporation $L Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. bought a new position in Loews Corporation (NYSE:L) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,620 shares of the insurance provider’s stock, valued at approximately $2,489,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after buying an additional 108,882 shares during the period. Geode Capital Management LLC increased its stake in shares of Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares during the period. Invesco Ltd. increased its stake in shares of Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares during the period. Legal & General Group Plc increased its stake in shares of Loews by 0.4% in the third quarter. Legal & General Group Plc now owns 1,340,867 shares of the insurance provider’s stock worth $134,610,000 after buying an additional 4,792 shares during the period. Finally, UBS Group AG boosted its holdings in Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider’s stock valued at $85,427,000 after acquiring an additional 37,327 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Loews news, Director Dino Robusto bought 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the sale, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 19.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews currently has an average rating of “Strong Buy”.

Loews Stock Performance

NYSE:L opened at $105.05 on Wednesday. The stock has a market cap of $21.62 billion, a P/E ratio of 13.35 and a beta of 0.53. The firm’s fifty day simple moving average is $107.91 and its 200 day simple moving average is $106.99. Loews Corporation has a twelve month low of $86.77 and a twelve month high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, May 27th. Loews’s payout ratio is 3.18%.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.